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Dec 27, 2012
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gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent,
gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right...
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Dec 27, 2012
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cliff is not the fiscal cliff. it should be really called returning to the clinton era tax rates, which isn't that the democrats dream to return to the clinton era tax rates? >> no. that was 39%. i don't think that's a big deal and not comparable to what the rates were under reagan or going back to even clinton. clinton was 39%. >> that's where we are going, 39%. >> what about this? every time bainner and obama gets close to a deal, obama moves the goalpost back. >> because he's playing hardball. he's going, republicans, i don't care about that, i get that for free. he's kind of the guy that came to play and staunch for his side. >> the american people, when you look at the policy, they think it's president obama who is willing to compromise. >> because he's able to fit it in. because he hasn't conceded anything. >> and who are the obstructionists? who is afraid to move? it's my ideology, i can't negotiate. and even if we go off the cliff we endanger the whole economy. >> again, the idea of add hearing to a princip
cliff is not the fiscal cliff. it should be really called returning to the clinton era tax rates, which isn't that the democrats dream to return to the clinton era tax rates? >> no. that was 39%. i don't think that's a big deal and not comparable to what the rates were under reagan or going back to even clinton. clinton was 39%. >> that's where we are going, 39%. >> what about this? every time bainner and obama gets close to a deal, obama moves the goalpost back. >>...
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Dec 28, 2012
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cliff. >> barrasso said president obama is eager to go over the fiscal cliff. senator barrasso joins us. well, why do you say that? >> well, i think the president sees political victory at the bottom of the cliff in term of the increased tax money coming in that he can spend for other programs. i think he sees a lot the military which the democrats have been after for a long time and then he gets to do what he loves to do, is to blame republicans. my concern is that i actually see financial problems for our nation at the bottom of the cliff and that's why i want to get a solution. >> tomorrow do you think it's going to be the beginning of the emergency meeting at the white house, is it the beginning of a deal or is it a political drama? >> my concern is it may be a political charade by the president and harry reid and nancy pelosi. i hope it actually is the beginning of a deal because if we don't get it done now, we need to go and make sure that things get done so we don't raise taxes and taxes aren't raised for all these americans that are looking at it come j
cliff. >> barrasso said president obama is eager to go over the fiscal cliff. senator barrasso joins us. well, why do you say that? >> well, i think the president sees political victory at the bottom of the cliff in term of the increased tax money coming in that he can spend for other programs. i think he sees a lot the military which the democrats have been after for a long time and then he gets to do what he loves to do, is to blame republicans. my concern is that i actually see...
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Dec 26, 2012
12/12
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cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get their act together and we'll get something to go forward. we think the markets will respond positively. >> you do admit that things could get a whole lot worse from a market standpoint before they get better, right? >> if nothing is done, and we just do not feel at this point that knock will be done. we think that investors who are concerned that nothing will be done and the washingtonians will stick to that through the first quarter flat second quarter should be buying puts at this point. from the perspective that we see now, from the words that came out of both the president as well as the speaker of
cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get...
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Dec 28, 2012
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dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ male announcer ] th
dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your...
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Dec 27, 2012
12/12
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>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and import, eric. about $100 billion or more comes in and out where you have to have these strikes. co it is very devastating and could reverberate throughout thees country. food distributors, everybody would be affected by this strike if it goesrd forward. eric: what do the unions want and what is management willing to do, how far apart are these two groups? >> normally in a dispute with the unions it is about wages and benefits in this case it is not. what the unions are objecting to with reports i have been seeingu is new work rules a
>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and...
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Dec 27, 2012
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both options going over the fiscal cliff and not going over the fiscal cliff are losers. that leads to a big lie. when this was made it was supposed to be bad for both sides. remember, high taxes and democrat sweet 16 party. they love that stuff saming that to dems is saying i don't know sardines and mill sack bad for cats. they love this. that shows how democrats crank the republicans. the democrats are so good at politics. politics to them is like inmates making shivs. they do it all day. so at the end of the day they can stab you. republicans are going what just happened? i just got stabbed. that is what they do for a living. they're good at politics. >> eric: president obama said according to the "wall street journal" on thursday, boehner offered $800 billion in revenue increases. president obama said those don't count. those are mine. what is up with that? just o >> juan: obviously what the president is talking about is three times that for revenue increases. we'll give you a third of that. you know what? you have to count this as something we give you to negotiate w
both options going over the fiscal cliff and not going over the fiscal cliff are losers. that leads to a big lie. when this was made it was supposed to be bad for both sides. remember, high taxes and democrat sweet 16 party. they love that stuff saming that to dems is saying i don't know sardines and mill sack bad for cats. they love this. that shows how democrats crank the republicans. the democrats are so good at politics. politics to them is like inmates making shivs. they do it all day. so...
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Dec 28, 2012
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i do begrudge what he's done in this fiscal cliff talks. it's been very clear from the beginning that he had no intention to solve the fiscal issues. he's been using this, and i must say with great skill and ruthless skill and success, to fracture and basically shatter the republican opposition. the only, you know, redoubt of the opposition is the house. and his objective from the very beginning was to break the will of the republicans in the house and to create an internal civil war and he's done that. how did he do it? from also insisting from day one after the election that the republicans had to raise rates. there's no reason at all to get the revenue that he needed and that the speaker was offering him that you had to raise rates. obama himself, as you know, said last july, july, 2011, you can get $1.2 trillion by eliminating loopholes, which is exactly what republicans offered him. so why did he insist on the rates? he said that is what he will insist upon, and that was the ultimatum. he did that because he knew it would create a cris
i do begrudge what he's done in this fiscal cliff talks. it's been very clear from the beginning that he had no intention to solve the fiscal issues. he's been using this, and i must say with great skill and ruthless skill and success, to fracture and basically shatter the republican opposition. the only, you know, redoubt of the opposition is the house. and his objective from the very beginning was to break the will of the republicans in the house and to create an internal civil war and he's...
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Dec 29, 2012
12/12
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cliff, you've heard about that fiscal cliff by now -- this year's new year's eve will be a countdown to financial pain for many families all across the country. tax hikes mean nearly all americans will see less money in their paychecks. while the government will have to slash spending across the board with the military taking a hard hit. but economic news for 2013 apparently may be not all bad and some analysts say there are reasons to be optimistic. so let's bring in financial advisor carolyn castleberry. thank you for joining us. we could all use some good news. hopefully you're here to bring that. >> i will try. it doesn't seem like happy new year and fiscal cliff go in the same sentence. >> heather: it really doesn't. you know, we talked about the recession, it began five years ago, reportedly ended -- reportedly more than three years ago. yet 12 million americans looking for work. families have been drowning in mortgage debt for years on end. why should we feel optimistic about 2013? >> it's interesting, i was talking to some people today and they say the fiscal cliff for them s
cliff, you've heard about that fiscal cliff by now -- this year's new year's eve will be a countdown to financial pain for many families all across the country. tax hikes mean nearly all americans will see less money in their paychecks. while the government will have to slash spending across the board with the military taking a hard hit. but economic news for 2013 apparently may be not all bad and some analysts say there are reasons to be optimistic. so let's bring in financial advisor carolyn...
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Dec 28, 2012
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. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the new year, mandy. >>> bring it on. the s&p 500 is on track for a fifth straight decline. some of the hope does seem to be coming out of the market of late for a deal. of course, there could still be time. nonetheless, what we have seen is a drop of 1.3% so far this week. indead, the s&p's longest losing streak in three months. even the good news on home sales. not helping the three major averages which are on pace for their biggest weekly drop in six weeks. keep in mind, many investors are still away for the holiday shortened week. volume is light. that does tend to exacerbate market swings. let's get down
. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the...
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Dec 27, 2012
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people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's
people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the...
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Dec 28, 2012
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>> z we're not on the verge of fiscal cliff, we have already gone over the of fiscal cliff. look at our problem with spending, how bloated our government is. we're $16 trillion in debt. something needs to be done. this year we're going to spend $165 billion more than we receive in social security. $3 we're going to spend for every 65 we receive in social security in medicare. this is absolutely -- we need to stop. this is not fair to young people. it's not fair for future generations they have to inherit this debt. something needs to be done. >> i agree. what do we do when we have personal debt? we raise our income, we want to raise our revenue and cut spending. >> we're not going to take -- >> we put it forward and we've cut spending cut $.5 trillion last year. >> where? >> i want to take money from the private sector and give it to a bunch of bureau kratz. let the money stay in the private sector. don't raise taxes when we have a slow economy. >> why are you telling me that? tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. ever
>> z we're not on the verge of fiscal cliff, we have already gone over the of fiscal cliff. look at our problem with spending, how bloated our government is. we're $16 trillion in debt. something needs to be done. this year we're going to spend $165 billion more than we receive in social security. $3 we're going to spend for every 65 we receive in social security in medicare. this is absolutely -- we need to stop. this is not fair to young people. it's not fair for future generations they...
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Dec 28, 2012
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the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium in a matter of minutes and will bring you a statement on the fiscal cliff live. "piles of money" is on the way. ♪ she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all yo
the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium...
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Dec 30, 2012
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keep those pictures coming. >>> fiscal cliff, debt, and egos. how much of what is going on in washington is about what's right versus who's right? one doctor has some suggestions for the decision-makers. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. i get congested. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me breath freer, so i can love the air. [ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. ...and now... you! [ giggles ] ♪ the one and only, cheerios your doctor will sa
keep those pictures coming. >>> fiscal cliff, debt, and egos. how much of what is going on in washington is about what's right versus who's right? one doctor has some suggestions for the decision-makers. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you...
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Dec 26, 2012
12/12
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have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be considered a luxury. it really hinders our expansion possibilities. this is not a partisan issue. this is an american issue. the american people have been on a roller coaster for the past four years. it's time for them to get on stable ground. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a d
have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be considered a luxury. it really hinders our expansion...
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Dec 27, 2012
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that will happen tonight to work on the fiscal cliff deal. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the delaware on a bitter christmas night 1776 before going on to defeat the british in two major battles, that's sacrifice. i, for one, never understood how in good conscious any of these politicians would think about leaving town with so much riding on this cliff hanger? shouldn't they get their work done before they leave town for a break? that's what's expected for most working americans but then again washington politicians have rules of their own. people whose salaries that we pay are called public servants. meaning they verve us. not the other way around. we don't work to make their lives better. they are supposed t
that will happen tonight to work on the fiscal cliff deal. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the...
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Dec 29, 2012
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they passed a bill months ago to avoid this fiscal cliff. now, that bill has been come meetly ignored by -- completely ignored by senate democrats and by the president. number five the worse part of all there is nothing here that the president is proprosing that deals with the real clear present danger that america now faces. reckless borrowing, reckless spending generational theft that brings america to the point of bankruptcy. the president has given the country over $6 trillion in new debt. trillion dollars deficits as far as the eye can see and all he wants to fight for is higher taxes that will fund a mere 8 and a half days of government. frankly nothing but a pathetic disgrace. you the american people deserve a government that lives within its means. you deserve a government that is not obsessed with using your money to accumulate their power. it is time for americans to understand the simple truth of what is going on here. a truth by the way that an abusively biased news media just ignores. joining us now with reaction as america is o
they passed a bill months ago to avoid this fiscal cliff. now, that bill has been come meetly ignored by -- completely ignored by senate democrats and by the president. number five the worse part of all there is nothing here that the president is proprosing that deals with the real clear present danger that america now faces. reckless borrowing, reckless spending generational theft that brings america to the point of bankruptcy. the president has given the country over $6 trillion in new debt....
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Dec 27, 2012
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the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to my facebook friend michael carr. you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to d
the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap...
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Dec 29, 2012
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economy from going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very instructive as to what we are able to accomplish. >> if it doesn't work president obama wants lawmakers to vote on what would essentially be plan c. here
economy from going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate...
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Dec 27, 2012
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we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going substantially higher or towards 15? are not and gold and silver has had every reason to move higher in the fourth quarter in 2012. it has not. i think the love affair hedge funds have had with gold is over and view 2013 is the year gold will finally under-perform. >>> coming up, delta's flight status, can it continue its flying stock market run into the new year, one stock, two opinions. we debate it. >>> home prices on track positive for the first time since 2006. which real estate stocks are traders banking on now? >>> japanese stocks trading on highs as the market plunges. ♪ [ cows
we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going...
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Dec 27, 2012
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off a fiscal cliff perhaps. well, let's go to jeff flock who is at the exxonmobile refinery in illinois. i was going to mention the name of the town, but i will let you do that, jeff. jeff: a little small town outside joliet. you're looking right now actually at something you don't often see at refiners but sometimes do, it's called flaring. it is when a refinery goes back on-line after an unplanned shutdown, they have to burn off some dangerous gases, they have to report that to the federal government because it's a potentially dangerous situation. but that danger is nothing like the danger to the oil market from the fiscal cliff. take a look sat oil today -- take a look at oil today, pulled back a little bit after the big run up yesterday. and the run up yesterday i think wasn't so much fiscal cliff, it was more mideast action, but the story really isn't so much actually price. it is volume, the lack of volume. because of the fiscal cliff, huge amounts of oil money on the side lines right now. take a look at v
off a fiscal cliff perhaps. well, let's go to jeff flock who is at the exxonmobile refinery in illinois. i was going to mention the name of the town, but i will let you do that, jeff. jeff: a little small town outside joliet. you're looking right now actually at something you don't often see at refiners but sometimes do, it's called flaring. it is when a refinery goes back on-line after an unplanned shutdown, they have to burn off some dangerous gases, they have to report that to the federal...
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only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam jabbers is in washington. >> reporter: president obama did cut his vacation short in hawaii. he has arrived back at the white house this morning. the president emerging from marine one. what he's going to work on here in washington is pretty much anybody's guess at this point. the senate came back into session this morning and senate majority leader harry reid took to the senate floor to explain that he thought a $250,000 and above extension of the tax -- bush tax cuts could, in fact, pass and he was extremely, extremely angry in ways that you really hear on the
only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam...
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let president obama own the fiscal cliff. it should be called the obama cliff. >> julia: people know how much they would have to pay. folks on the man on the street interviews . people are looking at the numbers going what. >> kelly: in today's meeting should be a crucial meet the white house should have come with its plan and boehner should have come with a plan and senator reid should come with a plan but senator reid is name call speaker of the house john boehner giving retaliation of what is done . you have a lot of name calling. listen to what boehner said in response to senator reid. senator reid should talk less and legislate more. the house has passed legislation to avoid the entire fiscal cliff and senate democrats have not. now they are coming into the meeting and there is already acrimoney instead of reconciliation. >> part of the problem, i am sorry, the house passed two spending bills and ideas to meet the fiscal cliff and cent -- subject it to the senate. they have two over there . john boehner said let me get t
let president obama own the fiscal cliff. it should be called the obama cliff. >> julia: people know how much they would have to pay. folks on the man on the street interviews . people are looking at the numbers going what. >> kelly: in today's meeting should be a crucial meet the white house should have come with its plan and boehner should have come with a plan and senator reid should come with a plan but senator reid is name call speaker of the house john boehner giving...
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this is a real issue, this fiscal cliff. liz: ceos and c f os have been looking better and so is wall street. goldman sachs the double warning that companies got to watch out for but these other companies that are heard by the fiscal cliff, a is not just defense contractors but health care companies, those are not just the guys hit by the medical device tax. other healthcare companies as well and environmental companies such as waste management and republicans industries. these are the company's that get 50% or more of their sales from government contracts. when you see spending cuts coming you can imagine they will have to be dialing back on their own capital investment. adam: we are talking about cuts right now but then we have tax hikes. people have less money immediately. some of these will play out over the next few months. people who might lose their jobs won't lose immediately but all of us have less many come january 1st to spend and as we spend less money there are a bunch of companies not on that list, retailers, t
this is a real issue, this fiscal cliff. liz: ceos and c f os have been looking better and so is wall street. goldman sachs the double warning that companies got to watch out for but these other companies that are heard by the fiscal cliff, a is not just defense contractors but health care companies, those are not just the guys hit by the medical device tax. other healthcare companies as well and environmental companies such as waste management and republicans industries. these are the...
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the one thing that can scuttle it is if we do fumble the fiscal cliff. if it becomes a problem and the u.s. goes off the rales, the dollar yen becomes in trouble. the japanese side of the equation will continuously pressure the b.o.j. we'll probably try to target that 90 level that abbe wants by next year. that's how the trade sets up for now. >> boris, good to talk to you as always. i like the casual friday look. i hope we didn't drag you in this morning? >> no, you didn't, but i did have to shave for you guys. >> happy new year. we'll see you on the other side. >> we'll see you. >> don't forget to check out money in motion. it airs on cnbc at 5:30 eastern. time to play a little year end hold 'em or fold 'em. let's start with the good ones, fellas. the year's biggest dow gainers. there they are, home depot, jpmorgan, bank of america. >> hold 'em, hold 'em, hold 'em, all of 'em. >> all three. >> you must like home depot if you like the home builders. >> love home depot. love jpmorgan. bank of america we're out of. >> take a look at the losers. we'll disc
the one thing that can scuttle it is if we do fumble the fiscal cliff. if it becomes a problem and the u.s. goes off the rales, the dollar yen becomes in trouble. the japanese side of the equation will continuously pressure the b.o.j. we'll probably try to target that 90 level that abbe wants by next year. that's how the trade sets up for now. >> boris, good to talk to you as always. i like the casual friday look. i hope we didn't drag you in this morning? >> no, you didn't, but i...
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fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising to at least consider any bill that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay h
fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising...
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obviously a lot of attention tonight on the fiscal cliff. we're inside 30 hours until the expiration date on tax cuts. there are other important bits of business on capitol hill before the end of the year. in other words, in the next 30 hours or so. on friday, the senate approved a more than $60 billion bill to pay for construction costs for superstorm sandy. you see the video of that here. the house still needs to vote on that legislation. it isn't clear yet what the house is going to do. molly henneberg is live in d.c. there's a holdup in the house. what is it? >> the price tag. house republicans say it's too steep. a south carolina republican congressman said he and others want to help the people hurt by sandy but lawmakers need to figure out where the money's going to come from. >> it's not paid for. i know that's a difficult conversation to have but it's a necessary conversation. if we can't come together and figure out a way to stop spending someplace else to pay for this disaster, do we hope to be able to balance our budget and fix ou
obviously a lot of attention tonight on the fiscal cliff. we're inside 30 hours until the expiration date on tax cuts. there are other important bits of business on capitol hill before the end of the year. in other words, in the next 30 hours or so. on friday, the senate approved a more than $60 billion bill to pay for construction costs for superstorm sandy. you see the video of that here. the house still needs to vote on that legislation. it isn't clear yet what the house is going to do....
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"off the fiscal cliff, this fall is really going to hurt." that's what they said. >>> up next, it used to be a favorite republican pastime, going after hillary clinton. it hasn't happened for a while, of course, but what if she does run for president? how could they resist doing it again? you're watching "hardball," the place for politics. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects ma
"off the fiscal cliff, this fall is really going to hurt." that's what they said. >>> up next, it used to be a favorite republican pastime, going after hillary clinton. it hasn't happened for a while, of course, but what if she does run for president? how could they resist doing it again? you're watching "hardball," the place for politics. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be...
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and if we go over the fiscal cliff, the unemployed will take the biggest hit. reverend dr. frederick haines will tell us what falling off the cliff means for the less fortunate. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. boproductivity up, costs down, thtime to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her li
and if we go over the fiscal cliff, the unemployed will take the biggest hit. reverend dr. frederick haines will tell us what falling off the cliff means for the less fortunate. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just...
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the looming fiscal cliff. aides for both parties now saying a partial agreement or patch probably the most that we can be expecting before january 1. >> i think we're dealing now with whether or not we can put off the -- the increase in tax rates. that's really all we can deal with now. >> the next session of the senate is now set for tomorrow. the house has nothing on its schedule for this week. members have been told they could be called back within 48 hours' notice. meantime, and this i guess is also the big news, the white house saying the president's going to be flying back from vacation in hawaii today. a lot of people making something of that. i don't know what it means ultimately. >> well, one thing it means -- >> a show of something. >> if i had to get back from hawaii at a minute's notice, you know what it would be. the president will have an easier time of it, i think. right? >> i noticed a couple of news reports saying the cost of the last-minute flight is about $250 -- >> he's the president, he's
the looming fiscal cliff. aides for both parties now saying a partial agreement or patch probably the most that we can be expecting before january 1. >> i think we're dealing now with whether or not we can put off the -- the increase in tax rates. that's really all we can deal with now. >> the next session of the senate is now set for tomorrow. the house has nothing on its schedule for this week. members have been told they could be called back within 48 hours' notice. meantime, and...
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economy goes over the fiscal cliff. harris: i have to tell you that wall street is starting to react for a fifth day of losses on wall street. stocks are reacting, it is the final friday before the fiscal cliff. the dow is a 55-point drop, but it has been lower at that. it is still early in the trading day yet. the forecast for today is not looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fiscal cliff includes a castilian dollars in custom military spending. it is called sequestration. many military experts are concerned about the impact of sudden spending cuts and how it could impact national security. molly henneberg has more on that this morning live from washington. reporter: the cost will be big. the cuts will be large. if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollar
economy goes over the fiscal cliff. harris: i have to tell you that wall street is starting to react for a fifth day of losses on wall street. stocks are reacting, it is the final friday before the fiscal cliff. the dow is a 55-point drop, but it has been lower at that. it is still early in the trading day yet. the forecast for today is not looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fiscal cliff includes...
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tonight's question, who will the public blame if we go over the fiscal cliff? text a for democrats, text b for republicans to 622329. i'll bring you the results later in the show. >>> joining me now is congressman elijah cummings of maryland. welcome to the show. >> it's good to be with you. >> what do you make of the latest posturing. the house will they reconvene before january? they have a lot of stuff to do, so clearly they can't make it back to d.c. to do the people's business. >> as you said a few minutes ago, we have been assured we would be given at least 48 hours notice before we would have to come back, that means right now, is that probably the earliest we will come back is saturday morning. that would only leave saturday and sunday to get anything done, because i doubt that the house will be in session on new year's eve. i doubt it. >> right. >> basically what you're talking about right now, we have two days. this has been a game that's been played on this. this plan b that mr. boehner put forth was everybody knew it wasn't going anywhere. and sadly
tonight's question, who will the public blame if we go over the fiscal cliff? text a for democrats, text b for republicans to 622329. i'll bring you the results later in the show. >>> joining me now is congressman elijah cummings of maryland. welcome to the show. >> it's good to be with you. >> what do you make of the latest posturing. the house will they reconvene before january? they have a lot of stuff to do, so clearly they can't make it back to d.c. to do the people's...
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it will depend on the fiscal cliff. if we go off the cliff and stay off of the cliff when we plummet down, in the next six to nine months. if they say they are going off of the cliff now but going to fix it early next year may be markets give washington a month or two to get their house in order. if that happens we will tread water for a while but not going to see a real problem. i don't think there's a cliff on january 1st that we cannot change withholdings, keep government spending going at the rate it is going so even though they don't fix it which is the way it looks right now doesn't mean we are going to tank right away in january provided markets believe eventually washington will get it done. lori: if you look of the message a number markets today, pete sell-off, stocks piling into treasuries, gold is up and oil is backing off, you have to wonder what is around the corner. can you be bullish at all at this point? >> you can be very bullish if you look at the labour market data today, provided they get this thing
it will depend on the fiscal cliff. if we go off the cliff and stay off of the cliff when we plummet down, in the next six to nine months. if they say they are going off of the cliff now but going to fix it early next year may be markets give washington a month or two to get their house in order. if that happens we will tread water for a while but not going to see a real problem. i don't think there's a cliff on january 1st that we cannot change withholdings, keep government spending going at...
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it is down to the wire for fiscal cliff. and it could, i don't know, it could mean mitch mcconnell could come to the rescue. we will tell you a little bit about what went down yesterday. a live report from washington in just a moment. >> dave: super mitch. a college kid thrown in the slammer for wearing this. a fake ammo belt. overreaction or a appropriate in the wake of the connecticut school shooting? we report, you decide. then a real life iron man he was told he would never walk again but now he is first look at a new medical break through. >> juliet: love this story. >> clayton: this technology is going to shock you. "fox & friends" hour two begins right now. >> clayton: good saturday morning. welcome in to "fox & friends." juliet huddy in for alisyn camerota. nice to see you. >> juliet: good morning. nice to see you. did you have a great christmas? >> dave: did i with family. how about you? >> juliet: istles in miami. >> clayton: juliet huddy is wearing new year's eve outfit. >> as do you heading in the new year's eve
it is down to the wire for fiscal cliff. and it could, i don't know, it could mean mitch mcconnell could come to the rescue. we will tell you a little bit about what went down yesterday. a live report from washington in just a moment. >> dave: super mitch. a college kid thrown in the slammer for wearing this. a fake ammo belt. overreaction or a appropriate in the wake of the connecticut school shooting? we report, you decide. then a real life iron man he was told he would never walk again...
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the edge of the so-called fiscal cliff is really in view now. the home county of house speaker john boehner butler county, ohio, currently under a blizzard warning. house republican leaders holding a conference call earlier today on the fiscal cliff, but so far they have not yet called on lawmakers to return to capitol hill. but they have said they will give a 48 hour warning if they plan to do that the white house saying the president is cutting his holiday vacation in hawaii short to return to d.c. to work on a deal to try to stop those automatic tax hikes and deep spending cuts from kicking in on january 1st. and if they don't reach a deal before then, many economists say we will dip back into a recession. i had henly house republican leaders didn't have a lot of new information for their lawmakers. they would have 48 hour notice if they are needed to pray back to washington from various districts around the country. that tells us they are being noncommittal at this point because they frankly do not know whether or not there will be a deal to
the edge of the so-called fiscal cliff is really in view now. the home county of house speaker john boehner butler county, ohio, currently under a blizzard warning. house republican leaders holding a conference call earlier today on the fiscal cliff, but so far they have not yet called on lawmakers to return to capitol hill. but they have said they will give a 48 hour warning if they plan to do that the white house saying the president is cutting his holiday vacation in hawaii short to return...
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cliff negotiations are dominating his time. >> the fiscal cliff and diamond head in the background and waikiki beach. ed, safe trip home. >>> joining us, from u.s. news and world report, ken walsh. who is going to come to the rescue, anybody? >> looks like there's a road block at every critical juncture point here. it looks like now the ball's in the senate's court, to mix met force. the house failed to get to a vote with speaker boehner's plan. it looks like the best they can do, really, is some kind of a partial agreement that -- with some of the fiscal cliff provisions are going to take effect on january 1st. this is what everybody was hoping would not happen but it looks imminent. >> let's just say your scenario's right and the temporary fix comes from the senate and harry reid but it has to go back to the house. then what? >> the other part is the senate. the 60 vote rule of the filibuster. they have to clear that 60-vote point if somebody blocks this in the senate. then it goes back to the house. there's a lot of questions about whether spiker boehner can control his republican c
cliff negotiations are dominating his time. >> the fiscal cliff and diamond head in the background and waikiki beach. ed, safe trip home. >>> joining us, from u.s. news and world report, ken walsh. who is going to come to the rescue, anybody? >> looks like there's a road block at every critical juncture point here. it looks like now the ball's in the senate's court, to mix met force. the house failed to get to a vote with speaker boehner's plan. it looks like the best they...
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like to call the fiscal cliff. then again, it could be that. dagen: thank you for that. starbucks has a new message for lawmakers and all those congressmen have to do is read what is written on their morning cup of joe. it is already too late for the pentagon. defense cuts are coming in a big way. a look at world currencies and how they are holding up against the dollar. ♪ [ malennouncer ] it's tt me of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. starsaving at citi.com/pricerewind. dagen: more good news for recovering the housing market. home prices in the 20 city index grew 4.3% from a year ago. chicago, new york were the only
like to call the fiscal cliff. then again, it could be that. dagen: thank you for that. starbucks has a new message for lawmakers and all those congressmen have to do is read what is written on their morning cup of joe. it is already too late for the pentagon. defense cuts are coming in a big way. a look at world currencies and how they are holding up against the dollar. ♪ [ malennouncer ] it's tt me of year again. time for citi price rewind. because your daughter really wants that pink...
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there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the program, but the market's very unhappy. we do have some good news to report tonight. looks like at least one cliff has been averted for the time being. the so-called container cliff. the union that represents dock workers and u.s. maritime lines came to an agreement today to extend their current contract for 30 days. this is a big relief now for the retail industry and consumers who were staring at real destruction again for the supply chain. here now is jonathan gold and he's vice president of supply chain and customs policy for the national retail federatio
there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the...
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in the meantime, we'll look at the impact the fiscal cliff has on individual states. montana unlike many, may be facing a double whammy. not only are rising taxes a threat on households, but federal aid for things like acculture could compound the problems if we go over the cliff. >> indeed, joining us to spell out the details is montana governor schweitzer. great to have you with us. we heard from a farmer in your state. he laid out the wation and it didn't sound good at all. what do you see as the impact on your state from that? >> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and
in the meantime, we'll look at the impact the fiscal cliff has on individual states. montana unlike many, may be facing a double whammy. not only are rising taxes a threat on households, but federal aid for things like acculture could compound the problems if we go over the cliff. >> indeed, joining us to spell out the details is montana governor schweitzer. great to have you with us. we heard from a farmer in your state. he laid out the wation and it didn't sound good at all. what do you...
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uncertainty about the fiscal cliff. they are moving up it is yet another example of how we get around this. i would point out when companies are not paying out the dividends, it means we get waste we don't like. instead they spend on offices and private jets and otherwise they might have distributed those funds much >> yes. john tamny, have a great new years. >> and coming up on the show . how late is too late to get your kids eating right? >> and other questions from parents looking for a healthiier new year for their kids. ready to buy a home? we'll show you where to get the most of your money. top towns to buy in now. ♪ [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] wonder what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relief ] [ male announcer ] choose taste. choose prego. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you
uncertainty about the fiscal cliff. they are moving up it is yet another example of how we get around this. i would point out when companies are not paying out the dividends, it means we get waste we don't like. instead they spend on offices and private jets and otherwise they might have distributed those funds much >> yes. john tamny, have a great new years. >> and coming up on the show . how late is too late to get your kids eating right? >> and other questions from parents...
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she sent a text, she says, fiscal cliff issues drive me crazy! they should not get paid until it's resolved and we have a meaningful budget. none of us could run our household the way washington runs things. what do you say to that? >> you know, that's the real story here. people are looking at these kids in washington who are just messing up and can't do the basics. they're disgusted with both political parties and i think all of our political leaders are going to have a hard time regaining any legitimacy or credibility after this is done one way or the other. it is true congressional republicans are faring a little worse than the president. but people are pretty fed up with the entire process. >> gregg: the president keeps saying he wants to raise taxes on the rich. but how do folks in the middle class feel about whether their taxes are going to go up? are they pessimistic? >> 49% of all voters he expect middle class taxes will go up as part of any deal to avert the fiscal cliff. there is a general expectation that over the next couple of years
she sent a text, she says, fiscal cliff issues drive me crazy! they should not get paid until it's resolved and we have a meaningful budget. none of us could run our household the way washington runs things. what do you say to that? >> you know, that's the real story here. people are looking at these kids in washington who are just messing up and can't do the basics. they're disgusted with both political parties and i think all of our political leaders are going to have a hard time...
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142
Dec 30, 2012
12/12
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FOXNEWSW
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mitch mcconnell is asking vice president joe biden to get involved fiscal cliff talks. taxes on every american worker will go up if a deal is not reached. >> a judge ordered a psychiatric evaluation on a woman suspected of shoving a man to his death off a subway platform. >>> a fifth victim dies following a plane crash in moscow. investigators are trying to determine what caused it. >>> the senate has approved a $60.4 billion recovery package for areas hit by superstorm sandy. the bill heads to the house where the prospect for passing are no sure thing. moll y what's the holdup? the price tag. some house republicans say it's too steep and not offset by spending cuts. one south carolina republican congressman says he and others want to help the people hurt by sandy but lawmakers need to figure out where the money's going to come from. >> it's not paid for. i know that's a difficult conversation to have but it's a necessary conversation. if we can't come together and figure out a way to stop spending someplace else to pay for this, do we ever hope to balance or budget? >>
mitch mcconnell is asking vice president joe biden to get involved fiscal cliff talks. taxes on every american worker will go up if a deal is not reached. >> a judge ordered a psychiatric evaluation on a woman suspected of shoving a man to his death off a subway platform. >>> a fifth victim dies following a plane crash in moscow. investigators are trying to determine what caused it. >>> the senate has approved a $60.4 billion recovery package for areas hit by superstorm...
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224
Dec 27, 2012
12/12
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CNNW
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>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay whether it's estimated taxes or if your payroll, all these things will make it more difficult. we'll watch declining effort. this is not the same level as what the euro crisis is. the euro crisis is something that's not in the european's control as much as they'd like. it's in the control of congress, in control of the president. this is something we can fix if we want to. we have to get the political will and financial will to do so. >> but you mention the euro crisis and we're not there yet, but the big question is, can we get there? >> if this goes on until the end of the year, the end
>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay...
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74
Dec 26, 2012
12/12
by
CNBC
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>> melissa, i want to bring you up to date on the fiscal cliff developments. first of all, as you mentioned, secretary geithner has informed the senate that the united states government will hit its debt ceiling on monday. that is december 31st. now, that doesn't mean that anything happens immediately, because the treasury can take various steps to postpone the moment of reckoning, probably a couple of months. it's still significant. that's an effort to pressure congress. secondly, the house republicans have met, leadership has met, sent a letter to democrats saying the house has acted, now it's up to the senate to act. that's, of course, the m theic-controlled senate which has no intention of taking up that house bill, which would extend all of the bush tax cuts. the president wants to only extent cuts for incomes under $250,000. senate democratic leadership aide tells me there's a 50/50 chance for a mini deal, temporary extension of the tax cuts, before january 1st, but we haven't seen any progress on it yet. president obama is coming back early as you menti
>> melissa, i want to bring you up to date on the fiscal cliff developments. first of all, as you mentioned, secretary geithner has informed the senate that the united states government will hit its debt ceiling on monday. that is december 31st. now, that doesn't mean that anything happens immediately, because the treasury can take various steps to postpone the moment of reckoning, probably a couple of months. it's still significant. that's an effort to pressure congress. secondly, the...
88
88
Dec 27, 2012
12/12
by
FBC
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the fiscal cliff is a problem. stuart: and you'll be saying that tonight on your show. >> what our show is about. stuart: nine o'clock eastern time. >> what a wonderful world. stuart: and the name of the show is "stossel". thank you, johnment time fo joh. time for the gold report. and we're the 1,654 a ounce, i'm surprised at that i thought we'd be well pof 1700 bearing in mind with money printing and all. we're at 1654 as of now. there's no privacy on the internet, not even for the sister of facebook founder mark zuckerberg. she posted a private photo on facebook and watched it go public on twitter and now, she's furious about it. and adam shapiro will explain exactly what happened and he'll join us, he's here, look at this. >> if you could do that. >>> even mark zuckerberg's own sister is angry at facebook's privacy setting. randy zuckerberg posted a photo and someone she didn't know made it public on twitterment she says it wasn't a problem with privacy setting it was a lack of human decency. adam is here and ex
the fiscal cliff is a problem. stuart: and you'll be saying that tonight on your show. >> what our show is about. stuart: nine o'clock eastern time. >> what a wonderful world. stuart: and the name of the show is "stossel". thank you, johnment time fo joh. time for the gold report. and we're the 1,654 a ounce, i'm surprised at that i thought we'd be well pof 1700 bearing in mind with money printing and all. we're at 1654 as of now. there's no privacy on the internet, not...